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No dig to you. I've been in sales since 2011. No one with an account exceeding $1mm has ever asked me about SIPC but I'm asked for accounts under $50K all the time. $250K of your cash and $250K of securities is the SIPC insurance. Most broker carry excess SIPC for the firm.

In the past, accounts have been transferred to another broker.

I portfolio of those might do well, but you still need to have the expectation that the stock will not move much or quickly. If I take the time and effort to pick a small number of stocks I think will do much better than the market, I do not want my upside capped as I need to make up for the...

There are circumstances where I prefer to sell the just OTM put. But I only do that because I like to stock but neutral over the short term. If I want to be long, I want to make more than the value of the short put.

Your initial post was about naked short calls. Now you are asking about naked short puts. You need an exit plan for both. Rolling a losing trade or putting a hedge never make sense to me when the trade went bad. And the idea that if a stock is trading at 100, and I sell the 85 puts, that I would...

You would have to back test what percentage of the time, that works over saying if my OTM call goes ATM, cover. I do not sell naked calls but I'd rather cover the loss than increase my risk on the trade where the stock can turn around and you lose twice.

Hi VicBee - Lightspeed can handle both retail and institutional customers from Singapore. None of our platforms offer the ability to sell tax lots yet, but maybe we can make up for that. Also, foreign accounts do not receive a 1099 for capital gains, only NRA withholding from dividends, so you...

HAH. When he said "OVERNIGHT", I do not think he meant you. It was hard to answer in the manner that he asked. REG-T Margin requires a minimum of 25% Maintenance overnight for fully marginable stocks with no house extra requirement. For example holding $100,000 of AAPL would require a minimum...

We can't open any account where one partner or trader can be trading from Canada.

This works well is a stable market, which we have had during their testing. It is also encouraging a lot of short term trading without any suitability requirements. I did not watch the entire video but I wonder if they provide an exit strategy during a market event? I’m not a fan of a one...

My bad. You are correct. I would need a long call somewhere. It can have almost no value.

The odds of finding one mispriced are slim. That does not mean there is not a price where you and the MM can both benefit. An example would be that I trade in my ROTH. I can't short a stock. I can do a conversion and then sell the long stock, leaving me with the long put and short call. I have...

When I was a wire clerk and then broker from 1982 until the end of 1984, we did a lot of Box Spreads and R/C. The box spreads were to move income to the next year - before the tax changes, and the R/C were for off floor traders to get long stock to short or for floor traders to reduce debit...

His example was long stock, long put and short calls. Like we both said, that is the conversion.

This is called a Conversion. The short side is called a Reversal. I had so many more questions, but was hoping someone else would ask. Riskless collar? 10%? SPAN/PMA? I have never hear of a Riskless collar,

Unfortunately, various registration requirements in Canada and Australia prevent us from opening accounts for those who are residing in or a citizen of Canada or Australia. These are the only two countries where we have this issue. They are not on any OFAC or FTAF restricted list. The regulator...

The OCC for end of day values for their TIMS calculations (PM Requirements) do similar smoothing. They did not for years creating horrible values for OTM puts where some were $0.00/$0.50 and some were $0.00/$0.05 on either side of the wider market.

Were you processing mid-point or last sale? Were these liquid symbols with tight markets and lots of trades or the opposite?

Correct. You place your limit. If you see the button on the bottom left- it says mid-point. I like to populate the limit with that first and then alter it. On the screen shot, I just choose mid-point. Then you can alter the stock price where it says STK PRICE and the option net price where it...

I just checked. It shows the individual option markets and the stock price used and that net debit was the option midpoint with the stock price of 248.48.